Commonwealth v. Tradesmen's Trust Co.

Superior Court of Pennsylvania October 11, 1915

Commonwealth v. Tradesmen's Trust Co., 61 Pa. Super. 137 (1915)

1915 Pa. Super. LEXIS 282

Bioe, Head, Henderson, Kephart, Orlady, Trexler

Opinion of the Court

Opinion by

Head, J.,

Notwithstanding the elaborate argument so earnestly pressed upon us by the able counsel for appellant, we are all of opinion the controlling questions were correctly disposed of by the learned auditor whose report was *145adopted and approved by the court below. This being true, any restatement of the facts or discussion of the legal questions arising therefrom would be but a useless repetition of what has been already well done by the learned auditor. His report fully vindicates the conclusion he reaches, and we adopt that conclusion for the reasons given in his report.

Decree affirmed.

Reference

Full Case Name: Commonwealth, ex rel. v. Tradesmen's Trust Company
Cited By: 4 cases
Status: Published
Syllabus: Banks and hanking — Trusts and trustees — Trust company — Money for purchase of real estate. Where a purchaser of real estate pays over the purchase-money thereof to a trust company which is to insure the title, and make settlement with the seller, and the trust company delivers its own check drawn on itself to the seller for the balance due him, and the seller through some inadvertence delays in depositing the check for collection until after the trust company has gone into the hands of a receiver, the holder of the check is a general creditor of the trust company, and is not entitled to preference as a depositor under the Act of May 8, 1907, P. L. 192, or as the cestui que trust of a trust fund.